Is there any quantifiable pattern to how newly listed stocks perform after IPO?

I have been meaning to do this particular study for a while now although I was held up by a big question of how to obtain and then properly organize the relevant data. I think I have worked out enough right now that I can give it a go.

The best source of information on Singapore IPOs, by the way, is the eponymous blog dedicated to them.

Data

I collected the closing total-return-adjusted prices of the first 300 days of all live Singapore-listed stocks from Bloomberg, totaling about 770 stocks. Note that this is distinct from the actual IPO price, and as such will not cover the “first day pop” that most IPO investors seek. That kind of information is beyond my scope right now.

Questions

I break it down ...